Login

You are not logged in.

A.I. Powered: Philippine Bar Reviewer

☰
☰ Home Mock Bar Flashcards Discussions Analytics Blog
All ▸ Bar 2024 ▸ COMMERCIAL AND TAXATION LAWS ▸ XIII. TAXATION LAW (R.A. No. 8424, as amended by R.A. No. 10963, R.A. No. 11534) ▸ L. Local Taxation (R.A. No. 7160, Book II, Title I) ▸ 5. Taxpayer’s Remedies ▸ c. Refund or Credit - Section 196

Question

Taxpayer's Remedies: Refund or Credit

Mr. Hernandez, a business owner, recently discovered an error in the computation of his business taxes for the past three years. Upon reviewing the records, he realized that he overpaid his taxes by a significant amount. Mr. Hernandez wants to claim a refund for the excess taxes he paid.

Advise Mr. Hernandez on the following:

  1. What are the legal requirements for claiming a refund or credit of excess taxes?
  2. What is the prescription period within which Mr. Hernandez can file a claim for refund or credit?
  3. What supporting documents or evidence does Mr. Hernandez need to submit in support of his claim?
  4. In case his claim for refund or credit is denied, what administrative and judicial remedies are available to Mr. Hernandez?


Ace the Bar with A.I




You know about A.I. but you don't know just how much it can help you ace the bar? watch this.


Other Questions in This Topic

Bar Review Question: Taxpayer's Remedies: Refund or Credit Mr. Hernandez, a business owner, recently discovered an erro